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TSLA

Elon Musk criticized the term 'recall' for Tesla's OTA software updates, following a recall of 2.2 million vehicles, including the Cybertruck, for a minor issue with warning light font sizes. The National Highway Traffic Safety Administration (NHTSA) noted the fix is an OTA update, some of which have already been deployed. Musk and Tesla argue that using 'recall' for such updates is outdated, suggesting 'Software Recall' as a more accurate term.

Portfolio Pulse from Anan Ashraf

February 03, 2024 | 2:22 am

CTGO

GFI

RS

X

BMO Capital downgraded Gold Fields Limited (GFI) to Underperform with a lower price target. Reliance Steel & Aluminum Co. (RS) acquired Cooksey Iron & Metal, aiming to strengthen its position in the Southeastern market. Glancy Prongay & Murray LLP is investigating Contango ORE, Inc. (CTGO) for potential state law violations. United States Steel Corporation (X) reported a Q4 net loss of $80 million, a significant decline from the previous year, but remains optimistic about its future, especially regarding its combination with Nippon Steel.

Portfolio Pulse from Austin DeNoce

February 02, 2024 | 9:26 pm

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A Florida bill proposing to cap delta-9 THC levels in cannabis products gains momentum, with amendments setting limits at 30% for pre-rolls and whole buds, and 60% for processed substances. The bill, backed by Trulieve Cannabis Corp., progresses as New York faces a lawsuit from women-owned social equity cannabis companies over the licensing process. Meanwhile, Virginia considers treating cannabis like alcohol, proposing a regulated marketplace to start in 2025.

Portfolio Pulse from Jelena Martinovic

February 02, 2024 | 8:44 pm

SNCR

Israel and Hamas are reportedly moving towards a ceasefire and hostage release deal, facilitated by the U.S., Egypt, Qatar, and Israel. Hamas has shown initial support for the proposal, which involves a phased release of hostages and prisoners. Israeli Prime Minister Netanyahu insists on continuing military operations in Gaza for an 'absolute victory' and criticizes U.S. financial sanctions on Israeli settlers for violence in the West Bank. Defense Minister Gallant eyes Rafah as the next military target.

Portfolio Pulse from Neil Dennis

February 02, 2024 | 8:29 pm

TSLA

A Delaware judge voided Tesla Inc's CEO Elon Musk's 2018 compensation plan, leading to considerations of re-incorporating Tesla in Texas. Analyst Daniel Ives views the ruling as perplexing and anticipates Tesla's move to Texas, which could facilitate a new compensation plan for Musk, aiming for 25% voting rights. Ives maintains an Outperform rating on Tesla with a $315 price target. Tesla's shares are currently down, reflecting uncertainty.

Portfolio Pulse from Chris Katje

February 02, 2024 | 7:09 pm

TSLA

Tesla Inc (NASDAQ:TSLA) has experienced a technical indicator known as a Death Cross, where its 50-day moving average crossed below its 200-day moving average, signaling potential downward trends. This comes amid various challenges, including regulatory scrutiny, recalls, and concerns over Elon Musk's compensation. Despite a strong performance in 2023, Tesla's stock is down 24% YTD in 2024. Analysts have a neutral consensus on Tesla, with a price target of $207.80, reflecting the market's shifting sentiment and uncertainties.

Portfolio Pulse from Surbhi Jain

February 02, 2024 | 5:44 pm

JBLU

SAVE

A U.S. Appeals Court has established an expedited schedule for the appeal by JetBlue and Spirit Airlines against the rejection of their merger. This move indicates a swift progression through the legal system, potentially impacting the future operations and strategic positioning of both airlines.

Portfolio Pulse from Benzinga Newsdesk

February 02, 2024 | 4:44 pm

BTCUSD

ETHUSD

Three individuals have been indicted in connection with a conspiracy to hack the cryptocurrency exchange FTX, resulting in a theft of $400 million. The indictment could have implications for the broader cryptocurrency market and investor confidence in digital assets.

Portfolio Pulse from Benzinga Newsdesk

February 02, 2024 | 4:40 pm

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FLGC

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OGI

SBIG

January saw significant executive and board changes in the cannabis industry. Flora Growth Corp.'s CEO, Clifford Starke, was elected chairman of the U.S. Hemp Roundtable. 4Front Ventures and The Cannabist Company Holdings announced new CEOs. Organigram Holdings and other companies made board appointments, while MedMen Enterprises and BZAM Ltd. saw departures. Trulieve Cannabis appointed a new COO, and other companies expanded their executive teams.

Portfolio Pulse from Jelena Martinovic

February 02, 2024 | 4:01 pm

EDVMF

Endeavour Mining PLC (OTC:EDVMF) has resumed operations at its Hounde gold mine in Burkina Faso after resolving an 11-day strike. The strike had significant financial impacts on the company, with operations at this key asset temporarily halted. The resolution came after a court in Burkina Faso ordered an end to the strike and the expulsion of protesters. Despite challenges, including political instability in Burkina Faso and increased mining royalty rates, the company remains committed to its operations in the region. The Hounde mine is a critical asset for Endeavour, accounting for nearly 30% of its total gold production in 2023. The company also faces legal investigations related to the firing of its CEO for misconduct.

Portfolio Pulse from Stjepan Kalinic

February 02, 2024 | 3:45 pm